Turkey defense the industry is set become the first sector to attract investment from the United Arab Emirates (UAE), within the framework of a planned investment of $10 billion (TL 136 billion) in several sectors.
Besides this particular sector, the Gulf country is also plans to invest in The agriculture, energy, food and IT sectors in Turkey.
The investment decision came after President Recep Tayyip Erdoğan’s two days official visit to the country during which he also met with United Arab Emirates business leaders.
Nail Olpak, Chairman of the Foreign Economic Relations Council (DEIK), comments on developments regarding the recent visit said a new and powerful the process had begun to unfold in economic relations with the bucket.
“Their appetite for investment in Turkey is very high,” he said.
Explaining that they are going start meetings with federations of bedrooms of trade and industry in Istanbul and the UAE as soon as possibleOlpak said, “First of everything they said us that we have a very strong contract sector and that they want to enjoy.”
“the bucket private the sector is interested in engaging Turkey in certain areas of investment. It can be from scratch, or in the form of partnerships with existing ones. We have seen that their interest in energy, IT, food and agriculture have come to the fore,” he said.
DEIK Turkey-UAE Business Council head Tevfik Öz, meanwhile, also sharp out sectors such as energy, real real estate, agriculture, food and health possible areas of Cooperation, with the defense industry leading the way.
“This year we can see the investments that bring together the knowledge of Turkish companies and their financial power. In particular the defense industry is the sector closest to cooperation. The whole process is ongoing with a win-win logic“, underlined Öz.
Turkey defense the sector has gained enormous momentum in in recent years, allowing the country not only use its national products but to export all over the world.
Turkey currently makes defense the industry exports to 170 countrieswhile the number of exported products, including drones, armed drones, vehicles and maritime platforms, reached 228, Ismail Demir, Presidency of The President of Defense Industries (SSB), told Daily Sabah in late January, reiterating that Turkish armed drones have recently attracted worldwide attention.
turkish drones, more in particular, have grown in popularity since rolling out the hardware in Syria, Libya and Azerbaijan in conflicts that have been widely covered around the world.
Ankara hopes use these successes in son quest become a leading exporter of UAVs.
Turkey and UAE signed 13 cooperation agreements in various sectors during Erdoğan’s visit to the Gulf country amid the normalization process between the two regional powers.
Erdoğan’s visit to the UAE was the first in a decade like two countries mend ties strained by years of animosity in a pivot towards economic partnership.